Qatar joins forces with Bill Gates to combat poverty
Qatar joins forces with Bill Gates to combat poverty
The Qatar Development Fund pledged US$50 million to the Lives and Livelihoods Fund, co-founded by the Bill and Melinda Gates Foundation, to tackle root causes of poverty in underdeveloped nations.
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Gates (R) travelled to Doha for the signing ceremony on Wednesday [AFP]
Qatar has thrown its weight behind global efforts to combat poverty, joining forces with the likes of billionaire Bill Gates and other international figures and organisations.
On Wednesday, the government-affiliated Qatar Development Fund pledged $50 million to the $2.5 billion Lives and Livelihoods Fund, with a view to provide affordable grants and Sharia-compliant loans at below-market rates to individuals and businesses in 30 of the most underdeveloped member states of the Islamic Development Bank (IDB).
The countries reportedly include Yemen, Bangladesh and several sub-Saharan nations of Africa.
The Lives and Livelihoods fund was established by the Bill and Melinda Gates Foundation (BMGF) and the Islamic Development Bank (IDB), a Jeddah-based organisation founded in 1975 to advance economic development and social progress in Muslim communities.
An agreement was signed between Khalifa bin Jassim Al Kuwari, director-general of the Qatar Development Fund, and IDB chairman Ahmed Mohamed Madani, in a ceremony attended by Bill Gates, the co-founder Microsoft and the richest man on the planet, according to Forbes.
On Wednesday, the government-affiliated Qatar Development Fund pledged $50 million to the $2.5 billion Lives and Livelihoods Fund, with a view to provide affordable grants and Sharia-compliant loans at below-market rates to individuals and businesses in 30 of the most underdeveloped member states of the Islamic Development Bank (IDB).
The countries reportedly include Yemen, Bangladesh and several sub-Saharan nations of Africa.
The Lives and Livelihoods fund was established by the Bill and Melinda Gates Foundation (BMGF) and the Islamic Development Bank (IDB), a Jeddah-based organisation founded in 1975 to advance economic development and social progress in Muslim communities.
An agreement was signed between Khalifa bin Jassim Al Kuwari, director-general of the Qatar Development Fund, and IDB chairman Ahmed Mohamed Madani, in a ceremony attended by Bill Gates, the co-founder Microsoft and the richest man on the planet, according to Forbes.
“We aim at launching several projects in the health sector, which will improve the quality of life for millions of people across the Muslim world,” said Khalifa bin Jassim Al Kuwari, director-general of the Qatar Development Fund.
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Qatar previously worked with Bill Gates in support of his foundation's plan to eradicate polio globally |  |
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For his part, Gates told Doha News his foundation and Qatar have worked together on several initiatives over the years, calling the organisations “two very committed donors (with) a strong relationship”.
“This country has been very generous with foreign aid for a long time,” he said, adding that he first met Qatar Foundation chairperson Sheikha Moza bint Nasser to talk about development aid more than eight years ago.
Wednesday's commitment to the Lives and Livelihood Fund, however, “is the biggest single thing we’ve ever done together," Gates told Doha News.
Qatar previously worked with Bill Gates in support of his foundation's plan to eradicate polio globally.
Projects the fund also aims to support include plans to combat infectious diseases such as malaria and polio, and strengthen primary health-care systems.
Other areas include building electrical, water and sanitation infrastructure as well as investments in agricultural projects.
The fund previously gave a $20 million grant to improve living conditions for Syrian refugees in neighbouring countries.
Qatar’s international aid programme has expanded dramatically since the beginning of 2010, and focuses heavily on the Arab world, most notably in the humanitarian crises in Syria and Gaza.
Qatar’s international aid increased from less than $10 million annually in the pre-Arab Spring period to hundreds of millions following the event.
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